Mattel Q1 2024 EPS loss of $0.05; revenue $809.5M missed consensus, but gross margin increased to 48% and net loss improved.
Mattel reported Q1 2024 EPS loss of $0.05, surpassing the consensus estimate of $0.12 and its revenue of $809.5M missed the consensus estimate of $833.52M. Despite the sales dip, the company achieved a significant increase in gross margin to 48%, driven by lower inventory management costs and cost savings initiatives. Mattel's net loss improved to $28M, better than the estimated loss of $47.06M. The toymaker's share repurchases of $100M affirm confidence in financial stability and shareholder value enhancement.
April 23, 2024
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